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Crypto Rally Doesn’t Hold After Soft Inflation Data

Published

2 дня ago

12 марта, 2025

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The crypto sector was mostly flat for the day, as a short rally following better than hoped U.S. inflation data quickly lost steam.

Bitcoin (BTC) is trading at $82,800, down 0.5% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies excluding exchange coins, stablecoins and memecoins — is lower by 0.8% in the same period of time.

Pulling that broader gauge lower was ether (ETH) is the worst performing asset in the index and currently off 3.5% to roughly $1,880. At 0.022, the ETH/BTC ratio is now at the same level as it was in April 2020, right before DeFi summer brought projects such as Uniswap and MakerDao into the spotlight. The ETH/BTC ratio has plunged a staggering 67% since its all-time high in November 2021.

“Today’s lower-than-expected CPI should be bullish, signaling faster rate cuts, but crypto hasn’t reacted strongly,» Dr. Youwei Yang, Chief Economist at BIT Mining, told CoinDesk by email. «Weeks of market fear require more than a single good print to regain confidence.»

“The real issue is Trump’s aggressive tariffs, which risk making inflation stickier while also crashing markets,” Yang added, also mentioning the layoffs initiated by the Department of Government Efficiency (DOGE). “This puts the Fed in a bind: High inflation from tariffs makes rate cuts harder. Market crashes and job losses pressure the Fed to cut rates sooner. Cutting too early could reignite inflation, making future policy tougher.”

The market currently expects the Federal Reserve to restart rate cuts, perhaps as soon as May or June, with the possibility of as many of 100 basis points in cuts by October.

U.S. stocks enjoyed a modest bounce on Wednesday after a roughly 10% plunge over the past few weeks. The Nasdaq closed with a 1.2% advance while the S&P 500 managed a 0.5% gain.

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CoinDesk 20 Performance Update: Index Gains 3.3% as All Twenty Assets Move Higher

Published

1 час ago

14 марта, 2025

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CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2604.12, up 3.3% (+83.6) since 4 p.m. ET on Thursday.

All 20 assets are trading higher.

Leaders: LINK (+9.7%) and DOT (+6.7%).

Laggards: BCH (+1.3%) and UNI (+1.9%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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ZKsync Sunsets Liquidity Rewards Program, Citing Bearish Market Conditions

Published

2 часа ago

14 марта, 2025

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Layer-2 network ZKsync has announced that it will be sunsetting the Ignite Program, which rewarded users for providing liquidity, due to bearish market conditions.

«After careful consideration, the DeFi Steering Committee (DSC) has decided to not renew Ignite for Season 2 and will be sunsetting the program starting March 17th, 2025 by turning off rewards for period 6,» ZKsync posted on X.

It added that the long-term vision is centered around the Elastic Network, which is composed of multiple chains within the ZKsync ecosystem.

«Unfortunately we’re navigating a bearish market right now. In line with many other ecosystems, ZKsync has decided to be more conservative with spend in the short to medium term in response to these evolving conditions,» it added. «To stay sustainable, we’re tightening our focus and spending smarter, rather than fighting headwinds.»

Total value locked (TVL) on ZKsync is down by around 50% since Jan. 30 as the wider crypto market is grappling with a correction that has seen bitcoin and ether lose 13% and 27% of their respective market caps in the past month.

ZKsync’s native token (ZK) has plunged by 35% in the same period.

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Gold’s Historic Rally Leaves Bitcoin Behind, But the Trend May Reverse

Published

3 часа ago

14 марта, 2025

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Spot gold surpassed $3,000 an ounce for the first time before retreating to $2,990. Gold futures for April delivery also broke the $3,000 mark on Thursday.

The precious metal is now up over 15% this year, driven by strong ETF inflows, geopolitical uncertainty, and continued concerns over U.S. equities amid ongoing tariff discussions by former President Donald Trump.

Meanwhile, gold priced in British pounds has yet to reach its all-time high of £2,363, currently sitting around £300 below that level.

Charlie Morris, founder of ByTree and manager of the BOLD ETF, which includes both bitcoin and gold, has observed a divergence between gold and bitcoin ETFs and expects this trend to reverse soon.

“In the last 30 days, gold ETFs have seen $10 billion in inflows, while bitcoin ETFs have experienced $5 billion in outflows,” Morris noted. “Sooner or later, the flows will reverse again—just as they always do.”

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.